Brent Nears $99 After Houthi Strikes Halt Saudi Energy Sites as US-Iran Tensions Escalate
Updated
Updated · CNBC · Sep 8
Brent Nears $99 After Houthi Strikes Halt Saudi Energy Sites as US-Iran Tensions Escalate
3 articles · Updated · CNBC · Sep 8
Summary
$98.32 Brent and $93.65 WTI marked fresh gains early Tuesday after Houthi strikes on Saudi energy facilities deepened fears of a wider Middle East supply shock.
Saudi Arabia said operations at some sites were halted after the attacks wounded more than 70 people, with emergency crews still containing fires and assessing damage.
The market move builds on weekend escalation after the U.S. struck three Iranian oil tankers in retaliation for Iranian missile attacks on two Navy warships, prompting new public threats from both sides.
Goldman Sachs raised its December 2026 oil forecasts by $5 to $85 for Brent and $80 for WTI, saying tanker rates now reflect shipping disruptions that could last into 2027.
As Middle East strikes push gas prices to record highs, how will global markets absorb the shock of a looming energy crisis?
As Europe locks down Greenland's rare earths, will escalating U.S.-Canada trade wars jeopardize the West's critical mineral and aerospace supply chains?
With a historic orbital launch and Canadian expansion, can Europe's private space sector finally break free from its reliance on foreign rockets?